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Transat shareholders approve Air Canada takeover, narrowing competition

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Transat shareholders have approved Air Canada's $720-million acquisition offer, a milestone on a twisting road toward a takeover.

In a special meeting Friday, shareholders of the Quebec-based tour operator voted to accept the $18-per-share bid from the country's largest airline.

The takeover is expected to face intense scrutiny from the Competition Bureau and other regulatory authorities. "I have 42 years' experience in that field. I never saw the price going up," he said, pointing to competitors on the Montreal-Paris route such Air France, Level Airline and Corsair International. "Plenty of competition, there's no problem with that."

 

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Source: CTVNews - 🏆 1. / 99 Read more »

LIVE: Air Transat on Air Canada takeover bidAir Transat officials speak after a special meeting to vote on Air Canada's $720-million takeover bid for the company. Watch LIVE here.
Source: CTVNews - 🏆 1. / 99 Read more »